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Real Estate
Mortgage credit: loans over 27 years under certain conditions
Publié le 27 décembre 2023 - Legal and Administrative Information Directorate (Prime Minister)
The High Financial Stability Board (HCSF) has decided to extend the borrowing period from 25 to 27 years. Service-Public.fr specifies the conditions for taking advantage of it.
It is now possible to borrow for 27 years, if 10% of the total amount of the loan is earmarked for works. It used to be 25 years. It was a decision of December 18, 2023, by the Financial Stability Board. This decision was published in Official Journal of 24 December 2023.
A 27-year loan is conditional: at least 10% of the total amount of the loan must be dedicated to renovation works on the property. This work may involve modernization, reclamation, fitting-out or energy renovation.
Prior to this decision, a 27-year loan was granted if the works represented at least 25% of the loan amount.
Reminder
The HSCF advocates a debt ratio that does not exceed 35% of a household’s monthly income, including mortgage insurance. For a household with a monthly income of €3,000, this represents for example €1,050 per month.
Bridge credits are excluded from the effort rate of 35% of revenue, if they do not represent more than 80% of the value of the sale.
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